Jefferies lifts CAR Group price target, says outlook better than feared

CAR

10/08/2026 22:11

** Analysts at Jefferies and Morningstar were broadly upbeat on online auto classifieds firm CAR Group's CAR.AX FY26 results, with Jefferies calling results "good" and Morningstar highlighting there were no signs of AI disruption yet 
** Co on Monday reported 14% jump in annual net profit after tax to A$314 million ($221.53 million) and forecast FY27 adjusted net profit after tax growth of 9% to 12%
** Jefferies adds forecast was "better than feared," led by co's double-digit revenue growth expected in U.S. business despite challenging macro environment
** Morningstar says co's outlook was helping assuage fears around AI disruption, which had sparked selloff last year
** Morningstar says early success incorporating AI conversational search into customer journeys supports its view that CAR can use its proprietary data to provide better experience than generic AIs
** Jefferies raises PT by 14% to A$33.50
** Stock down 3.5% YTD after falling over 14% in 2025


($1 = 1.4174 Australian dollars)

 (Reporting by Shruti Agarwal in Bengaluru)
 ((Shruti.Agarwal@thomsonreuters.com;))